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By popular request, in our recent round of Women’s Circles, we discussed how values and goals influence money decisions. One of the big takeaways was that if you don’t consciously make decisions based on what’s important to you, your sub-conscious is going to be in charge of your wallet. And you might not like where that takes you.

The good news is that we can take advantage of new research on how our brains work—starting with being aware that goal setting happens even if we don’t set conscious goals.

This article includes some actionable ways you can tap into what you care about to set goals and increase your financial satisfaction. We also have a free worksheet to help get you started.

Extreme anxiety over finances is common enough among women that it has been dubbed “bag lady syndrome.” What is bag lady syndrome? This definition represents the fear of running out of money, losing your home and ending up destitute and alone, save for some plastic shopping bags stuffed with whatever you can carry.

This anxiety can erode a woman’s mental and physical well-being, place strain on her relationships, affect her career and even create the very situation she fears, no matter how money-savvy she really is. It can make a woman feel alone.

I’m happy to announce our upcoming Women’s Circles! This will be a refreshing direction after spending last quarter on taxes. This quarter, we’re focusing on the intersection between your values, goals, and money.

How does making effective financial choices start with understanding your values and goals?

Most people wouldn’t expect a discussion about taxes to be as riveting as a Game of Thrones marathon.

But then again, don’t you want to know what the recent changes in the tax code may have in store for your wallet beginning this year?

In our first-quarter Women's Circles series, aptly titled “The Tax Code Show,” we discussed a broad array of the Tax Cuts and Jobs Act (TCJA) of December 2017, so that participants could start to answer the big question: “How does this apply to me?”

Working for yourself can be pretty great. As the boss, you can set the dress code at “jammies.” While you miss out on having a 401(k) plan set up for you (along with an HR department reminding you to make contributions), you can take care of those things pretty simply yourself. And you should, because as a self-employed worker, you have access to more and better retirement plan options than most people who are working for someone else.

Two of the most popular retirement savings accounts for the self-employed are Individual 401(k)s, otherwise known as Solo 401(k)s, and SEP IRAs. You’ve probably heard of both of these. Which is best for your situation?

Estate planning enables you to guide decisions affecting your life when you are no longer able to do so. When you’re alive and able, you simply make your own financial and medical decisions. Core documents for estate planningare wills, trusts, powers of attorney for financial affairs, and advance healthcare directives.

But there’s a big difference between you representing yourself and a piece of paper representing your wishes.

So what can you do to add greater understanding about your wishes—so that your choices and values are represented when you are no longer able to make your own decisions regarding your affairs?

In our recent Women’s Circle discussion series, we contemplated just this question. Here are some strategies we discussed to enhance your estate planning documents, including a helpful list of ways to communicate your wishes, with links to some handy templates to help you prepare.

My parents got married at year end fifty years ago. In a blizzard. Here is a great photo of my snow-covered mother grinning through a mouthful of wind-blown veil as she edges down slippery stairs and into the limo, wearing gum boots generously given up by the driver:

Five decades together doesn’t come without challenges, financial and otherwise. (E.G., My sister and I were once teens. Shudder. Mom and Dad: apologies.)

Another successful Women’s Circle rounded out our financial understanding. Over lunch, we discussed savvy ways of gifting to charity, clarified the gift tax, and outlined ways to give to friends and family before discussing the more personal aspects related to both giving and receiving. This roundup is chock full of strategic tips from the Circle.

As we ramped up to the holidays, it was especially meaningful to hear how women of a wide range of ages and backgrounds felt about giving and receiving with grace, enabling each of us to learn what we needed from one another’s challenges and successes.

Helpful takeaways

Here are the smart giving tips that we talked about in the educational component of the Circle. Go ahead and share them. Think of each tip like a holiday sweater: if one doesn’t fit you, give it to a friend who can rock the snowflake turtleneck look!

When you hear the phrase “financial partnership,” you might instantly think of the relationship you have with your banker, investment advisor, or business associate. But what about your romantic partner, kids, parents, and friends? Finances can and do impact these other relationships in your life, arguably in deeper and more important ways.

Our September Women’s Circles, Mosaic’s guided conversation groups for women, are happening at lunchtime. Lunch will be on us. All you need to bring is an interest in learning more about how to protect both your health and your finances. (We hope you'll bring questions, too.) Our topic this quarter is The Big 5 Safety Nets That Are Not Insurance.

Coming up in September, we’re hosting Circles of a different shape: lunch and learns. Women’s Circles, Mosaic’s guided conversation groups for women, usually occur after work hours. But it can be hard to make an evening commitment when commutes, children, dates, and the rest of life asserts itself. So our September Women’s Circles will happen at lunchtime, and lunch will be on us - all you have to bring is an appetite. Come hungry to empower yourself through personal financial knowledge. Details follow.

Mosaic is committed to keeping you informed and educated about what impacts your finances. Sign up for our newsletter to get ideas you can act on, perspective on the markets, and to learn about upcoming events.